MailOnline: Glazers are in exclusive talks to sell a minority stake in Manchester United to American private equity firm Apollo

Right. Sounds bloody awful. So pretty much in line with everything else at the moment.
 
It just makes too much sense knowing what we know about the Glazers, teaming up with other Epstein-related yanks.

I really hope it's not true though and that it's leaked by camp Ratcliffe to get protest on Monday to a breaking point. Myself and many others are doing our best making our voices heard to Apollo, sponsors and Glazers' friends and family that we won't accept more rape enabling embezzlers.

We cannot let the Liverpool game be played, if we do we're never getting rid of them.
 
Gordon Godot said:
We need to see what a deal is. If the Glazers sell their shares its just money to them. I think 90% the outcome. Only if they sell new shares is there money to club, which for a listed company is a more complex thing to do.
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Yeah.

My feeling is that they are fattening up the pig before slaughter. A sale of 10 or 20 per cent to Apollo at a big number sets a benchmark, which a premium will be added on to. That invites any interested parties to come forward knowing what level of offer will be accepted.

We've already had the $6 billion number in the public domain. That wouldn't be out there if the Glazers didn't want it to be. They're going for a full sale IMO.
 
SuperiorXI said:
I hope everyone is not taking this as a positive, it's more Glazernomics and we cannot sit by and accept it.
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We need more detail, but I don't think this is necessarily worse than the status quo. We might get a new stadium out of it, for example.
 
hazldinho said:
There's reason to hope that this is a move to increase the value of the club prior to a sale. The Glazers will drag this out as long as necessary until every last potential penny has been squeezed while the reward vs risk is in their favour. The investment could actually go into the club to secure the signings needed to ward off the disasterous season this is already threatening to be which would certainly damage the value of the club.

This move to secure investment has probably been long planned as an option prior to the endgame which is to sell the club. Like them or loathe them, they are incredibly good at what they do (acquire wealth).
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It smells like inviting the jackals to the feast to be honest.
 
Infra-red said:
We need more detail, but I don't think this is necessarily worse than the status quo. We might get a new stadium out of it, for example.
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You make a good point on needing more information, however this is ultimately a Glazer decision, I have no faith that any step they take is for the benefit of the club over the benefit to their dividends. They might call it positive, they might talk about the stadium being overhauled, but they're only in it for the money.

We need to cut the head off the snake.
 
I'm sure we'll be purchased by Putin himself soon going by how shit everything seems to be when it comes to this club. Just when you thought there could be a glimmer of hope in regards to our ownership situation you get this news. Deflating.
 
#07 said:
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Article from the other guy says 4 of them want to sell. Joel and Avram don’t want to sell and may need to buy shares off them to keep control. I think this whole thing is a way for them to publicly announce the club is for sale without saying it’s for sale. If someone makes an offer they’ll sell. And I don’t think there will be a shortage of buyers.
 
Mickeza said:
Article from the other guy says 4 of them want to sell. Joel and Avram don’t want to sell and may need to buy shares off them to keep control.
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These two feckers, Rat-tail and Goblin-boy. From the few pictures we’ve seen, the other siblings look like ordinary human beings, but these two parasites are as ugly outside as they are inside. Hope the other siblings say “f*k it, we don’t need this sh*t” and cash out.
 
TsuWave said:
Aren’t private equity firms even less involved and all about dividends?
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im amazed anyone is believing that a private equity firm would even consider buying a minority stake in United

the only way a private equity firm would be involved would be some sort of loan surely
 
Tarrou said:
im amazed anyone is believing that a private equity firm would even consider buying a minority stake in United

the only way a private equity firm would be involved would be some sort of loan surely
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Simply discussing what’s reported. I’m not savvy on investment funds/private equity firms nor on their investment strategy thus me asking if that’s not what they’re about
 
::sonny:: said:
No americans

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Yep. American sports owners who know what it means to invest their own money and their own hearts in making clubs successful are only few and far between.

It's already bad that our current owners are like Hugh Culverhouse and Dan Snyder reincarnated, but for them to build an alliance with a bunch of rich rapists should be the signal to break all hell loose.
 
Any and every american owner is backed by private equity/banks.

Nobody is financing billion pound deals with their own cash ffs.

Having said that, Apollo will be looking to make a return on their investment in the 3-5 year time frame. But as minority owners they dont matter in the grand scheme of things. In fact, it opens the door for a "real" owner to come in and buy their shares (albeit at a premium).

The important thing is that the glazers are starting to look to sell the club.

It is hopefully the beginning of the end for their ownership.
 
Dear United fans, some concerning news on your potential new part-owners:
Garment workers in Nicaragua and Honduras went on strike to fight back against layoffs due to factory closures. These factories are owned by Tegra, which is owned by the private equity firm Apollo Global Management.
“They claim they are closing because of a financial and technical reorganization but what they want is to move production to El Salvador so they can save $5 million in social benefits,” union leader Pedro Ortega told SJ.
Nicaraguan and Honduran garment workers learned from Tegra’s past treatment of laid off workers during an earlier consolidation process and the withdrawal of Nike’s apparel production from Indonesia. Indonesian workers faced coercion to accept less than full compensation, and had to struggle for months to get legally-owed severance.
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In a Tuesday ruling that denied Apollo’s motion for summary judgment and sets up a likely trial, US judge Timothy Corrigan ruled that a jury could reasonably find that Apollo fraudulently concealed a stock incentive plan from fired Ceva employees as it wiped out their equity stakes in the bankruptcy.
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The celebration was short-lived. Just over a year after the plant’s grand reopening, Hostess shut it down. The fallout was swift. All 415 employees were fired, some for the second time in two years. Schiller Park lost one of its largest employers, creating a ripple effect through this tiny working-class suburb of Chicago.
A year after the layoffs at the Hostess plant in Illinois, Apollo and Metropoulos arranged for the company to borrow about $1.3 billion. Apollo and Metropoulos used most of that sum to pay themselves, and their investors, an early dividend on their investment.
Former employees recalled grueling shifts when temperatures inside the plant neared 110 degrees. The workers were given Gatorade to rehydrate.
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Apollo cut the wages for most of the production and maintenance workers at its Waterford plant. The National Labor Relations Board investigated and tentatively concluded that the company had violated the contract. But with other locals rallying behind a new contract offer, hundreds of the production workers were forced to accept drastically reduced pay.
In the months after the contract vote, the stress level at the plant was through the roof, said one worker, who, like his colleagues, spoke on condition of anonymity because he feared retaliation from company officials. His doctor treats lots of Momentive workers, he said, “and she says Xanax should be in our drinking water.”
The new contract, they said, has brought more responsibility for less pay. They alleged that new hires are asked to perform dangerous tasks with inadequate training. And longtime workers are taking second jobs to make up for lost pay, several men said.
“This is suicidal,” another man said.
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Perhaps most concerning to United fans:
But those returns may have come at a cost to the companies Apollo owns. The lifeblood of private equity firms is cheap debt: They use it for their purchases, and they often pile it onto their holdings to pay for special dividends to themselves.
Apollo appears to have embraced that approach wholeheartedly. In a February report, Moody’s found that from 2002 to September 2006, the firm took out dividends in more than a third of its 22 purchases within a year. Moody’s downgraded the debt of 45 percent of those deals, in part because of the debt load on those companies.
Now debt is weighing on Linens ‘n Things, the nation’s second-largest housewares retailer, behind Bed, Bath & Beyond. Apollo and two partners bought the company late in 2005, at the beginning of the recent buyout boom.
“Even with the housing market going strong, it was struggling with the top line,” Tiffany Co, a retail debt analyst with Fitch Ratings, told The Times. She added that several vendors have already stopped shipping merchandise to Linens ‘n Things, alarmed by the possibility of its going under.
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I've taken bits from various articles. The full Sources are below:
https://pestakeholder.org/news/garm...s-from-apollo-managements-tegra-amid-layoffs/
https://nypost.com/2021/06/29/apoll...g-in-closely-watched-dispute-with-executives/
https://www.nytimes.com/2016/12/10/...-twinkie-made-the-super-rich-even-richer.html
https://www.nbcnews.com/news/invest...ers-get-lesson-modern-economics-flna1c7750361
https://archive.nytimes.com/dealboo...es-to-keep-debt-from-sinking-linens-n-things/
 
Yeah I'm all for Glazers selling off, but am wary on this one. Need to read up more on these guys because initial impressions are that this isn't the kind of sale we have all been hoping for.
 
And there were those saying "they're capitalists, they don't care about negative press, about non-stop negative online feedback".
 
Thats brilliant the power of the fans to fight them off. I think we can do this!! #GlazersOut
 
RedDevilQuebecois said:
Yep. American sports owners who know what it means to invest their own money and their own hearts in making clubs successful are only few and far between.

It's already bad that our current owners are like Hugh Culverhouse and Dan Snyder reincarnated, but for them to build an alliance with a bunch of rich rapists should be the signal to break all hell loose.
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There are good ones too. I am Baltimore Ravens NFL fan and we have a great billionaire owner. Everyone loves him around here. There are for sure others like Bisciotti.
 
Adnan said:
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Apollo have pulled out but the bit below from the Bloomberg article is interesting and it seems the remaining people within the consortium are still in talks with the Glazers.

Bloomberg: "The US buyout firm was involved in financing talks with a consortium but is no longer in discussions, said the person, who asked not to be identified because the matter is private. Apollo’s initial interest was never to buy straight equity in the soccer club, the person said. Other members of the consortium are said to be carrying on with the talks."
 
Wonder if these “other” can be sussed out and then have their business interests targeted. The last thing we want is a bunch of mini-Glazers causing havoc. The anti-Glazer campaign needs to stay strong - I’m more excited for Monday’s protests than the game.
 
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Adisa said:
The Glazers don't plan on leaving anytime soon.
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On balance, your probably right.
A good old family row about money is my outside bet for the club going under the hammer. I mean the 4 passive Glazers must know that the only way they can get the full value of their B shares is through a complete sale of the club. Selling B shares as A shares (as one did recently) preserves control but its costly.
 
Adisa said:
The Glazers don't plan on leaving anytime soon.
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This is why the fans need to make their position unbearable. Now is the chance. At least 4 of these leeches are ready to cash out, now all that needs to do is convince the other 2 and we're golden.
 
This was just PR from the glazers they are looking to sell, they know full well nobody is investing for a minor share at this point.. there is no ROI there
 
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